Sept 10
Sept 10. New highs in stocks yesterday. Interest rates steady with falling vol.
–(Bloomberg) — The Federal Reserve said 11 of its 12 regional banks reported signs of a stable or improving economy in July and August, adding anecdotal evidence that the worst U.S. recession in seven decades is over.
–(Bloomberg) — The Federal Deposit Insurance Corp. proposed a six-month, emergency-only extension to its debt guarantee program as regulators move to wean companies from federal aid approved at the height of last year’s credit crisis.
The FDIC program is set to end Oct 31 for most banks. Government support slowly tapering off…
China strongly supports further stimulus efforts, while Japan’s new leadership is looking to cut programs from the previous government.
–Trade balance today expected -28B from -27. 30 year bond auction.
